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australia single winner grabs $58 mill powerball

Topic closed. 9 replies. Last post 8 years ago by savagegoose.

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savagegoose's avatar - ProfilePho
adelaide sa
Australia
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April 11, 2006
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Posted: June 6, 2008, 5:59 am - IP Logged

if it was usa, it would equal 232 mill, as its lump sum no tax. :P it wasnt me

2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

    AuntiePat's avatar - animaniacs10
    Just outside of Cleveland, OH
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    Posted: June 6, 2008, 7:28 am - IP Logged

    Have you checked this currency conversion lately--when I use my Universal Currency Converter--$58,000,000 AUD Australian) converts to $55,557,476.35 US.  Even allowing for no taxes, your figure seems a little ambitious--but like you--I wish I had been the winner in any currency--LOL

      DC81's avatar - batman39
      MI
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      Posted: June 6, 2008, 7:53 am - IP Logged

      Don't think they were doing a currency conversion, probably going by how many times it rolled over there against what it would be here if it rolled as many times and how many people would have bought tickets.

      You can't predict random.

        Todd's avatar - Cylon 2.gif
        Chief Bottle Washer
        New Jersey
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        May 31, 2000
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        Posted: June 6, 2008, 11:56 am - IP Logged

        <Moved to Jackpot Games forum>

        Please post in the appropriate forum ... thank you.

          savagegoose's avatar - ProfilePho
          adelaide sa
          Australia
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          Posted: June 9, 2008, 2:33 am - IP Logged

          oh hi a reply :)

           

          nah i was working on the theory that " what would a USA jackpot have to be to get $58mill your pocket "

           

          yeah exchange rate is rather good now, 1 oz $ used to buy 65c US , now its like 95c.

           

          say a us winner won 58 mill jackpot and decided to take lump sum? str8 off its halved to $29 mill

           

          then there is tax? another %50 off so lucky to get 15$ mill.

           

           

           

          i basically doubled it twice to figure how much a USA win so ok on new info of it being $55 mill usa it would equal

           

          a $220 mill jackpot.

           

          i gues sif someone knows what the actual tax rate lotto players pay whren they win  a more accurate jackpot total could be reached but this is a ball park figure

           

          tks for your replies

          2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

          keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

            RJOh's avatar - chipmunk
            mid-Ohio
            United States
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            March 24, 2001
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            Posted: June 9, 2008, 3:19 am - IP Logged

            MegaMillions now has a $45M jackpot which is worth $27.1M cash so a MegaMillions $96.3M jackpot would be worth $58M cash.

             * you don't need to buy more tickets, just buy a winning ticket * 
               
                         Evil Looking       

              savagegoose's avatar - ProfilePho
              adelaide sa
              Australia
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              Posted: June 10, 2008, 8:03 am - IP Logged

              MegaMillions now has a $45M jackpot which is worth $27.1M cash so a MegaMillions $96.3M jackpot would be worth $58M cash.

              then its taxed?

              2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

              keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                DC81's avatar - batman39
                MI
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                Posted: June 10, 2008, 8:44 am - IP Logged

                Yeah at around 35% Federal, might be more though the top bracket currently seems to be at 35% I wouldn't be surprised if there was something that would result in paying more and whatever state and local taxes there may be. In Michign I guess it'd be about 40% with the added 4.35% state tax, other income tax would depend on the area of course. So 27.1M would be around 16.26M and 58 million at about 34.8M.

                You can't predict random.

                  savagegoose's avatar - ProfilePho
                  adelaide sa
                  Australia
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                  Posted: June 13, 2008, 12:04 pm - IP Logged

                  Yeah at around 35% Federal, might be more though the top bracket currently seems to be at 35% I wouldn't be surprised if there was something that would result in paying more and whatever state and local taxes there may be. In Michign I guess it'd be about 40% with the added 4.35% state tax, other income tax would depend on the area of course. So 27.1M would be around 16.26M and 58 million at about 34.8M.

                  what i was trying to work out was how much a win in usa would equal in your pocket $58 mill, after the cut for going lumpsum and after taxes.

                  i used 50% tax, 50% for taking a lumpsum cuz thats a nice easy calcualtion. i spose 40% is closer to real.

                   

                  BTW the winners collected the prize, they want to remain anon, but did state it was 4 workmates.

                   

                  14.5 mill ea

                  2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                  keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                    savagegoose's avatar - ProfilePho
                    adelaide sa
                    Australia
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                    April 11, 2006
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                    Posted: June 14, 2008, 1:25 pm - IP Logged

                    ok i worked it out.

                    a 58 mill australian jackpot is equal to a us 182 mill jackpot.

                     

                    calculated by,

                    1st converting the in your pocket amount to  us$ thats $55 mill

                    2nd taking into account tax of %40, so iit would need a lump sum of $91 mill.

                    3rd taking into account the halving affect of going lump sum , would need an annulity of $182 mill.

                    2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                    keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297